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FGILI launches Future Generali Long Term Income Plan. Know details here

NEW DELHI: Future Generali India Life Insurance Company Ltd. (FGILI) has launched Future Generali Long Term Income Plan. The produce is a traditional, non-participating, long term guaranteed savings insurance plan.

Future Generali Long Term Income Plan will pay a regular and guaranteed income for up to 50 years. The income can start as early as the first policy month since purchase of the policy. It also offers flexibility to start income benefits after five years to receive higher income. Guaranteed increase in the survival benefits, by 50% of initial benefit, every 5 years from 11th year till the last payout. 

Life cover against death for full policy term, even while receiving income payouts. Option of continuing the income for family in case of death of insured without liability to pay future premiums. While the death sum assured gets paid immediately upon settlement of death claim, guaranteed sustained income for family continues, without any need to pay future premiums. The maturity amount is also paid to family on policy end date.

“Considering the growing cost of living, it has become imperative to secure a long term income plan that not just gives a regular income but is sustainable to take care of long term expenses too….the customer can now secure guaranteed income for their loved ones, for full term, to fulfil their dreams with this new Future Long Term Income Plan,” said Bikash Choudhary, Appointed Actuary and Chief Risk Officer, Future Generali India Life Insurance.

Key highlights of Future Generali Long Term Income Plan:

Guaranteed long-term income along with life cover for 30, 40 or 50 years (policy term). 

Premium payment liability limited to 8 or 10 years 

Guaranteed lump sum at maturity which is double of total premiums paid

Flexibility to choose income start date, it can be immediate, i.e. income from next month or next quarter or next year etc. or it can be deferred i.e. income after 5 policy years for higher income benefits

Increasing survival benefits through Income Loyalty Additions that enhance the income payable every 5 years starting 11th policy year

Option to secure income benefits and maturity benefit for the family, even after the death of insured without a liability of paying future premiums

Tax benefits available as per prevailing

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